The modest risk-off theme amid weaker.........>

FOREX: The modest risk-off theme amid weaker regional equity markets pressured

overnight, despite this the dollar was broadly unchanged from Friday's close in

New York and held to fairly narrow ranges. Broad-based dollar selling pressure

emerged into Europe, Usd/Jpy moved through the Asia low with ease, touched

pullback lows of Y111.16 before dip buyers cushioned falls. Fast money sellers

in Eur-Yen had pressured through Y133.00 to Y132.72 overnight. However, the

cross witnessed an uneventful European session and largely consolidated between

Y132.70-92. Eur/Usd moved through the Asia high ($1.1944), squeezed to $1.1957

before fading. Sterling retained an underlying buoyant tone, cable holds near

the peak of its $1.3310-53 morning range, Eur-stg last stg0.8940. Quiet on the

calendar today but this should pick up towards the end of the week, along with

mth-end flow the full Senate is expected to vote on the Tax Reform Bill. Should

the bill get through it would still need reconciling between both houses which

could provide a stumbling block going forward.